Editorials

by Rajen Kumar

No Escaping Social Media

Running a magazine concentrating on issues of small and medium enterprises and managing with limited resources is a like living life on the edge. In this rush of meeting deadlines,...

Special Reports

Apr 2012

EMRC, Brussels Associates with SME WORLD as its New Media Partner

EMRC has promoted business partnerships with the developing world and has organised dozens of business forums in key decision-making cities, such as Amsterdam, Rome,...

Top Stories

FICCI SMEs Summit to Attract Global Attention

Jul 2009

SME is the worst effected sector in the current global economic downturn. In the last fiscal, many small and medium enterprises have become sick and others are facing problems in selling their products due the cancellation of orders from most of their overseas clients. It has affected the employment scenario in the country and further layoffs may deteriorate the conditions.

India's industrial growth declined to 2.4 percent during 2008-09 fiscal from 8.5 per cent achieved in the previous financial year. Further, the industrial output in the country during March 2009 has declined by 2.3 per cent as compared to last fiscal.

Presently, SME players are facing hurdles like lack of financial support, inadequate basic infrastructure facilities, lack of marketing assistance, lack of knowledge and information about the various schemes announced by the Government. Although the Reserve Bank of India has announced several measures to provide financial support to the SME sector, it has been noticed that often at the branch level bank officials are not aware of these schemes and there are apprehensions that these measures may not help ensuring enhanced credit availability to the SME sector, given the high risk perception of banks towards this sector.

The Survey

In view of the significance of the sector for Indian economy, the SME Division of Federation of Indian Chambers of Commerce & Industry (FICCI) the apex business organization of Indian Industry is presently conducting a survey to assess challenges faced by SMEs in the current global economic downturn and sentiment prevailing among members of Indian Industry. The survey will help FICCI in suggesting to the new elected Government the required policy initiatives for the SME sector. There is imperative need to enhance the availability of credit to the SMEs from the commercial banks and other institutional sources in order to meet their working capital requirements. This survey will be released in the last week of the June, 2009.

Further, in order to take issues at an international platform Ministry of Micro, Small and Medium Enterprises (MSME), Federation of Indian Chambers of Commerce & Industry (FICCI) and Confederation of Indian Small and Medium Enterprises (CISME) are jointly organising the Global SME Summit: Business Partnership Meet on 28th & 29th July, 2009 at Federation House, New Delhi. The summit will highlight and discuss the emerging issues related to the sector in sessions: Policy Reforms & Regulatory Framework, Economic Stimulus: Additional Measures to boost SMEs growth, Opportunities and Challenges for SMEs in Global Meltdown, SMEs Cluster Development in India: Policy Practices & Future Outlook, Technology and Quality Upgradation of SMEs, SMEs: The Way Forward.

The conference will attract representatives from across the globe including Policymakers, Regulatory Authorities, Financial Institutions, Fund Managers, Corporate Leaders & Investors, Small and Medium Enterprises, Technology Providers, SMEs domain expert, Senior Government Officials, Media and others having interest in the business of SMEs.

About organizers

Ministry of Micro, Small and Medium Enterprises (MSME)

MSME is the nodal Ministry for formulation of policies and Central sector programmes/schemes, their implementation and related co-ordination, to supplement the efforts of the States for promotion and development of these industries in India. Ministry of MSME assist the States in their efforts to promote growth and development of the MSME, enhance their competitiveness in an increasingly market-led economy and generating additional employment opportunities. In addition, the Ministry attempts to address issues of country-wide common concerns of this segment and also undertake advocacy on behalf of the MSME for this purpose.

Federation of Indian Chambers of Commerce & Industry (FICCI)

FICCI The largest & oldest apex organization of Indian business & industry is the rallying point for free enterprises in India. With a nationwide membership of over 1500 corporate and over 500 chambers of commerce and business associations, FICCI speaks directly and indirectly for over 2,50,000 business units. FICCI organize a large number of events including Exhibitions, Conferences, Seminars, Business Meets etc. for promoting business.

Confederation of Indian Small and Medium Enterprises (CISME)

The Confederation of Indian Small and Medium Enterprises (CISME) is a not-for-profit Organisation that welcomes all in the entrepreneurial community into it fraternity. CISME has been pioneered by a group of entrepreneurs, and is aimed to work closely with both the public and the private sectors to ensure that businesses in India can operate in a conducive and vibrant environment.

1 Comments >>

SURESH BABU KUNNEL

20 Aug 2011 (02:30:02)

I have taken a loan form Rs. 12 Lacs CC working capital and 8 Lacs machiner term loan under CGTS SME. My project was of manufacturing Prawns Pickles and Fish pickles. Though My project costed 1 Cr. but due to collateral requirement i have to cut down the cost to half the amount 50 Lacs. SBI has accepted the same but could lend me only 20 Lacs out of which working capital is just 12 lacs. also promised me that by six months time we will fund you 20 lacs more to meet your working capital but did not keep up the promise since it was done verbally. I planned according to their promises and had to stop my manufacturing due to in adequate fund. i requested for restructuring of finance but they refuse and said you have not done any transaction. (I could do only 16 lacs total transaction. ) and that they will provide only those who keep good transaction through out year. kindly guide me what is the next step i should do?

Our Achievements

Winner of appreciation award for promoting SMEs in India.
1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
Official Magazine Partners for several national & international MSME events.

The Last Word

More Learned than Educated, You were!

I was speechless. Rather hesitatingly I asked him, “So, what have you decided, Sominder ?” His reply was curt and candid, “I have told the doctors that I don’t want to live life as dumb. Only...

You can also write for SME WORLD

We are looking for writers and experts to contribute original stories and articles. Send an email to smeworld@gmail.com with your story idea and lets get talking.

Some of our valued contributors are...